In the last trading session, 1.31 million shares of the OmniAb Inc. (NASDAQ:OABI) were traded. Most recently the company’s share price was $4.31, and it changed around $0.29 or 7.21% from the last close, which brings the market valuation of the company to $506.04M. OABI currently trades at a discount to its 52-week high of $10.50, offering almost -143.62% off that amount. The share price’s 52-week low was $1.91, which indicates that the current value has risen by an impressive 55.68% since then. We note from OmniAb Inc.’s average daily trading volume that its 10-day average is 0.76 million shares, with the 3-month average coming to 655.63K.
OmniAb Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended OABI as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. OmniAb Inc. is expected to report earnings per share of -$0.12 for the current quarter.
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OmniAb Inc. (NASDAQ:OABI) trade information
Instantly OABI has showed a green trend with a performance of 7.21% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.39 on Tuesday, 05/23/23 increased the stock’s daily price by 1.82%. The company’s shares are currently up 19.72% year-to-date, but still up 12.53% over the last five days. On the other hand, OmniAb Inc. (NASDAQ:OABI) is 18.41% up in the 30-day period. We can see from the shorts that 4.41 million shares have been sold at a short interest cover period of 7.22 day(s).
The consensus price target as assigned by Wall Street analysts is $10.13, which translates to bulls needing to increase their stock price by 57.45% from its current value. Analyst projections state that OABI is forecast to be at a low of $8.00 and a high of $13.00. In order for the stock price to hit the forecast high, the stock would need to plunge -201.62% from its current level, while the stock would need to crash -85.61% from its current level to reach the projected low.
OmniAb Inc. (OABI) estimates and forecasts
OmniAb Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 55.04 percent over the past six months and at a 103.85% annual growth rate that is well above the industry average of 13.30%. The year-over-year growth rate is expected to be -2.30%, down from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $11.49 million in revenue for the current quarter. 8 analysts expect OmniAb Inc. to make $12.4 million in revenue for the quarter ending Sep 2023.
OmniAb Inc.’s next quarterly earnings report is expected to be released in June.
OmniAb Inc. (NASDAQ:OABI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.85% of OmniAb Inc. shares, and 71.57% of them are in the hands of institutional investors. The stock currently has a share float of 75.22%. OmniAb Inc. stock is held by 216 institutions, with Janus Henderson Group PLC being the largest institutional investor. By Mar 30, 2023, it held 5.75% of the shares, which is about 6.62 million shares worth $24.36 million.
Blackrock Inc., with 4.96% or 5.71 million shares worth $21.02 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Janus Henderson Triton Fund and Delaware Group Equity Fds V-Small Cap Core Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 4.4 million shares worth $15.84 million, making up 3.81% of all outstanding shares. On the other hand, Delaware Group Equity Fds V-Small Cap Core Fund held roughly 2.86 million shares worth around $10.14 million, which represents about 2.48% of the total shares outstanding.